FORM 13F COVER PAGE
Report for the Quarter Ended: September 30, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (check only one.): [ ] is a restatement.
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Argus Investors' Counsel Inc.
Address: 100 Prospect Street, South Tower
Stamford, CT 06901
13F File number:28-542
The Institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person signing
the report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists and tables, are
considered integral parts of this form.
Person signing this report on behalf of Reporting manager:
Name: Herman Roseman
Title: President
Phone: 203-316-9000
Signature, Place, and Date of Signing
Herman I. Roseman Stamford, CT October 27, 1999
Report Type (Check only one.):
[X] 13F Holdings Report.
[ ] 13F Notice.
[ ] 13F Combination Report.
List of other Managers Reporting for this Manager: NONE
I am signing this report as required by the Securities Exchange Act
of 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of other included Managers: 0
Form 13F information Table Entry Total:518
Form 13F Information Table Value Total:1,182,497,050
List of other Included managers:NONE
FORM 13F INFORMATION TABLE
<TABLE> <C> <C>
FORM 13F 9/30/99
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL
PAGE 1
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ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING
AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE
SHARED NONE
(A) (B) (C) (A) (B)
(C)
- -----------------------------------------------------------------------------------------------------------------------
- -------------
AT&T CORP COMMON 001957109 19612497 450862 450862 442462
900
ABBOTT LABS COMMON 002824100 3068359 83635 83635 74935
AIR PRODS & CHEMS INC COMMON 009158106 23185890 792680 792680 781780
1000
ALBERTSONS INC COMMON 013104104 21127364 534025 534025 525225
ALCOA INC COMMON 013817101 26736835 430805 430805 424205
AMERICA ONLINE INC DEL COMMON 02364J104 25691991 246890 246890 243390
200
AMERICAN EXPRESS CO COMMON 025816109 25662150 190090 190090 186290
500
AMERICAN INTL GROUP INC COMMON 026874107 24668255 283747 283747 279247
ARCHER DANIELS MIDLAND C COMMON 039483102 18699430 1542221 1542221 1542221
ATLANTIC RICHFIELD CO COMMON 048825103 549475 6200 6200 6200
AUTOMATIC DATA PROCESSIN COMMON 053015103 22823233 511445 511445 510645
800
BP AMOCO P L C COMMON 055622104 5466602 49332 49332 49132
200
BECTON DICKINSON & CO COMMON 075887109 25116358 895015 895015 882115
CATERPILLAR INC DEL COMMON 149123101 22917380 418105 418105 409905
600
CHASE MANHATTAN CORP NEW COMMON 16161A108 20588681 273150 273150 268450
CISCO SYS INC COMMON 17275R102 26623504 388310 388310 382010
400
COCA COLA CO COMMON 191216100 4057825 84100 84100 77500
COLUMBIA/HCA HEALTHCARE COMMON 197677107 17192533 811447 811447 811447
DEERE & CO COMMON 244199105 1510553 39045 39045 39045
--------- --------- --------- --------- --------- --------- -------
- -- ---------
COLUMN TOTALS 335298918 8031104 8031104 7936204
4600
FORM 13F
9/30/99
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL
PAGE 2
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ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING
AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE
SHARED NONE
(A) (B) (C) (A) (B)
(C)
- -----------------------------------------------------------------------------------------------------------------------
- -------------
DELTA AIR LINES INC DEL COMMON 247361108 22387843 461605 461605 455005
300
DISNEY WALT CO COMMON 254687106 25294360 972860 972860 960260
1400
DOW CHEM CO COMMON 260543103 25779581 226883 226883 223483
EASTMAN KODAK CO COMMON 277461109 25741691 340386 340386 334986
400
EMERSON ELEC CO COMMON 291011104 24579938 389000 389000 383100
EXXON CORP COMMON 302290101 1056400 13900 13900 9400
FDX CORP COMMON 31304N107 24870281 639750 639750 631350
400
FEDERAL NATL MTG ASSN COMMON 313586109 24073881 384030 384030 379230
200
FORD MTR CO DEL COMMON 345370100 17769656 353625 353625 347225
GTE CORP COMMON 362320103 3161869 41130 41130 41130
GANNETT INC COMMON 364730101 24864604 359380 359380 352880
1200
GENERAL ELEC CO COMMON 369604103 27077897 228385 228385 224785
GENERAL MTRS CORP COMMON 370442105 7565088 120200 120200 119800
400
GENUINE PARTS CO COMMON 372460105 19851192 747339 747339 747339
GILLETTE CO COMMON 375766102 4447509 131050 131050 119350
400
GOODYEAR TIRE & RUBR CO COMMON 382550101 18595500 386400 386400 386400
HEINZ H J CO COMMON 423074103 20009878 465346 465346 465346
HEWLETT PACKARD CO COMMON 428236103 18167696 200195 200195 198995
1200
INGERSOLL-RAND CO COMMON 456866102 23874025 434567 434567 427767
--------- --------- --------- --------- --------- --------- -------
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COLUMN TOTALS 359168888 6896031 6896031 6807831
5900
FORM 13F
9/30/99
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL
PAGE 3
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ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING
AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE
SHARED NONE
(A) (B) (C) (A) (B)
(C)
- -----------------------------------------------------------------------------------------------------------------------
- -------------
INTEL CORP COMMON 458140100 23813441 320450 320450 314850
300
INTERNATIONAL BUSINESS M COMMON 459200101 6994405 57805 57805 54305
INTERNATIONAL FLAVORS&FR COMMON 459506101 17839950 517100 517100 516400
700
INTL PAPER CO COMMON 460146103 24936027 518825 518825 510972
K MART CORP COMMON 482584109 16294187 1394155 1394155 1394155
KIMBERLY CLARK CORP COMMON 494368103 25261342 478888 478888 471488
400
MAY DEPT STORES CO COMMON 577778103 21187714 581481 581481 581031
450
MCDONALDS CORP COMMON 580135101 6900538 159550 159550 149950
MICROSOFT CORP COMMON 594918104 25953401 286580 286580 279480
2400
MINNESOTA MNG & MFG CO COMMON 604059105 1436134 14950 14950 14350
600
MOBIL CORP COMMON 607059102 16066603 159470 159470 159470
MORGAN J P & CO INC COMMON 616880100 4763083 41690 41690 41190
500
MORGAN STANLEY DEAN WITT COMMON 617446448 4655588 52200 52200 48800
MOTOROLA INC COMMON 620076109 24738120 281115 281115 276615
NORFOLK SOUTHERN CORP COMMON 655844108 525525 21450 21450 21450
PPG INDS INC COMMON 693506107 24614400 410240 410240 403040
PEPSICO INC COMMON 713448108 18030685 591170 591170 590770
400
PFIZER INC COMMON 717081103 26750911 745670 745670 736070
PHELPS DODGE CORP COMMON 717265102 19376494 351900 351900 351900
--------- --------- --------- --------- --------- --------- -------
- -- ---------
COLUMN TOTALS 310138546 6984689 6984689 6916286
5750
FORM 13F
9/30/99
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL
PAGE 4
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ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING
AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE
SHARED NONE
(A) (B) (C) (A) (B)
(C)
- -----------------------------------------------------------------------------------------------------------------------
- -------------
PITNEY BOWES INC COMMON 724479100 24341484 399450 399450 393550
PROCTER & GAMBLE CO COMMON 742718109 1255781 13395 13395 13395
RAYTHEON CO COMMON 755111408 22030026 443930 443930 435630
ROYAL DUTCH PETE CO COMMON 780257804 3478781 58900 58900 58900
SCHLUMBERGER LTD COMMON 806857108 25807968 414170 414170 407570
300
SONAT INC COMMON 835415100 10423922 262650 262650 262650
TEXAS UTILS CO COMMON 882848104 15389541 412450 412450 412450
UNILEVER N V NY SHS COMMON 904784709 23430981 343941 343941 338241
UNION PAC CORP COMMON 907818108 18863858 392486 392486 392486
V F CORP COMMON 918204108 1630600 52600 52600 52600
WAL MART STORES INC COMMON 931142103 7900369 166105 166105 155105
2000
WASTE MGMT INC DEL COMMON 94106L109 21321762 1107624 1107624 1090134
1090
WISCONSIN ENERGY CORP COMMON 976657106 2015625 86000 86000 86000
--------- --------- --------- --------- --------- --------- -------
- -- ---------
COLUMN TOTALS 177890699 4153701 4153701 4098711
3390
--------- --------- --------- --------- --------- --------- -------
- -- ---------
REPORT TOTALS 1182497050 26065525 26065525 25759032
19640
========= ========= ========= ========= ========= =========
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10/23/99 CA53E
5:52 END OF COMPANY 53 REPORTS ACTY 2
ARGUS INVESTORS' COUNSEL
13F REPORT 99021076 SDUPRODN
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10/23/99 CA53E
5:52 END OF COMPANY 53 REPORTS ACTY 2
ARGUS INVESTORS' COUNSEL
13F REPORT 99021076 SDUPRODN
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</TABLE>
